Artificial Intelligence in Cybersecurity Overview & Introduction

Artificial intelligence in cybersecurity offers end-to-end security solution for businesses to detect and quickly respond to cyber threats. AI in cybersecurity platforms assist companies to detect and protect against malware, ransomware, Trojans, and other threats. Data breaches can result from several factors such as weak login credentials, outdated antivirus software, utilization of insecure mobile devices and lack of effective employee training, among others. Companies aim to eliminate cyber-attacks by fighting them more effectively through the adoption of AI.

The increasing adoption of cybersecurity services and their diverse applications across varying industries, such as healthcare, BFSI, IT & telecom, government, and retail, have significantly contributed to artificial intelligence in cybersecurity market growth. The growing number of internet users and increasing adoption of cloud services are the major factors responsible for the adoption of AI in cybersecurity solutions. However, a limited number of cybersecurity & AI professionals, operating in the market is likely to hinder market growth to a certain extent.

Artificial Intelligence in Cybersecurity by Offering

Based on offering, the AI in cybersecurity market can be segmented into hardware, software and, services. The software segment is estimated to account for the largest share in the AI in cybersecurity market globally. This large share of the segment can be attributed to the development of several AI-based software and tools for a broad range of applications.

Artificial Intelligence in Cybersecurity by Technology

Based on technology, the market can be segmented into machine learning, natural language processing, and others. The machine learning segment is estimated to account for the largest market share owing to high computational capabilities and widespread applications across diverse sectors.

Artificial Intelligence in Cybersecurity by Security Type

Based on type, the market can be segmented into cloud security, network security, application security, and others. The application security segment is estimated to grow at a robust CAGR during the forecast period as many large organizations have started using several cybersecurity applications.

Artificial Intelligence in Cybersecurity by Deployment Type

Based on deployment type, the market has been segmented intocloud and on-premise. The market for cloud deployment is expected to grow at a high CAGR due to the increased adoption of cloud-based deployment by companies worldwide.

Artificial Intelligence in Cybersecurity by Application

Similarly, in terms of application the market can be segmented into risk & compliance management, data loss prevention, antivirus/antimalware, identity & access management, and security & vulnerability management. The identity & access management segment is estimated to account for the largest market share as it integrates functionalities that are frequently used by individuals as well as companies including authentication, authorization, user management, and central user repository techniques.

Artificial Intelligence in Cybersecurity by End User

Based on end-user, the market is segmented into Banking, Financial Services, & Insurance (BFSI), IT & telecommunication, healthcare, retail, government & defense, automotive & transportation, and others. The BFSI segment is estimated to grow at a robust CAGR during the forecast period as data breach incidences are more common in this sector.

Artificial Intelligence in Cybersecurity by Region

The global AI in cybersecurity market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America dominated the AI in cybersecurity market in 2019 owing to rising instances of cyber threats and increasing concerns of organizations regarding data protection. For instance, in 2019, First American Financial Corporation, a financial services company based in the U.S. exposed more than 885 million personal & financial records including bank account numbers & statements, mortgage & tax records, social security numbers, wire transaction receipts, and driver’s license images in the public domain. Asia Pacific is expected to witness the highest CAGR with market growth centered in China, Korea, Japan, and India owing to the extensive adoption of advanced technologies, such as the IoT, cloud computing, & big data analytics and growing concerns related to data security in the region.

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